Apple Inc. $AAPL Shares Sold by Hoertkorn Richard Charles

Hoertkorn Richard Charles lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 2.4% in the second quarter, according to its most recent filing with the SEC. The firm owned 96,779 shares of the iPhone maker’s stock after selling 2,343 shares during the period. Apple accounts for 8.4% of Hoertkorn Richard Charles’ portfolio, making the stock its 3rd largest position. Hoertkorn Richard Charles’ holdings in Apple were worth $19,856,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of AAPL. ROSS JOHNSON & Associates LLC raised its holdings in shares of Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after acquiring an additional 180 shares during the period. Conquis Financial LLC acquired a new position in shares of Apple during the 4th quarter worth about $63,000. LSV Asset Management acquired a new position in shares of Apple during the 4th quarter worth about $65,000. Elite Financial Inc. bought a new stake in Apple in the first quarter valued at approximately $58,000. Finally, HFM Investment Advisors LLC acquired a new stake in shares of Apple during the 1st quarter worth about $99,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $245.50 on Friday. The company’s 50-day moving average is $224.35 and its 200 day moving average is $212.42. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. The company has a market capitalization of $3.64 trillion, a P/E ratio of 37.25, a price-to-earnings-growth ratio of 2.47 and a beta of 1.11. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%.The company had revenue of $94.04 billion during the quarter, compared to analyst estimates of $88.64 billion. During the same quarter last year, the firm posted $1.40 EPS. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, equities research analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.4%. The ex-dividend date was Monday, August 11th. Apple’s payout ratio is presently 15.78%.

Insiders Place Their Bets

In other Apple news, SVP Deirdre O’brien sold 34,821 shares of the firm’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the sale, the senior vice president owned 136,687 shares in the company, valued at $30,508,538.40. This trade represents a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.06% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

AAPL has been the topic of a number of recent research reports. Phillip Securities lowered shares of Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 price target on the stock. in a research report on Thursday, September 11th. Wedbush reissued an “outperform” rating and issued a $270.00 price objective on shares of Apple in a research note on Tuesday, September 9th. Morgan Stanley set a $240.00 price objective on shares of Apple and gave the company an “overweight” rating in a research note on Wednesday, September 3rd. Sanford C. Bernstein assumed coverage on shares of Apple in a research note on Monday. They issued an “outperform” rating and a $290.00 price objective for the company. Finally, Jefferies Financial Group raised their price objective on Apple from $190.67 to $205.82 and gave the company a “hold” rating in a report on Monday, September 8th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $242.74.

Apple Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.